| Document and Entity Information - shares | 9 Months Ended | |
| Sep. 30, 2017 | Nov. 09, 2017 | |
| Document And Entity Information Abstract | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Sep. 30, 2017 | |
| Entity Registrant Name | RIDGEWOOD ENERGY V FUND LLC | |
| Entity Central Index Key | 1,385,662 | |
| Current Fiscal Year End Date | --12-31 | |
| Document Fiscal Year Focus | 2,017 | |
| Document Fiscal Period Focus | Q3 | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Common Stock, Shares Outstanding | 513.1226 |
| UNAUDITED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
| Current assets: | ||
| Cash and cash equivalents | $ 1,238 | $ 1,805 |
| Salvage fund | 285 | 285 |
| Production receivable | 404 | 604 |
| Other current assets | 104 | 132 |
| Total current assets | 2,031 | 2,826 |
| Salvage fund | 2,126 | 2,245 |
| Oil and gas properties: | ||
| Proved properties | 51,323 | 48,462 |
| Less: accumulated depletion and amortization | (30,631) | (26,570) |
| Total oil and gas properties, net | 20,692 | 21,892 |
| Total assets | 24,849 | 26,963 |
| Current liabilities: | ||
| Due to operators | 885 | 786 |
| Accrued expenses | 925 | 1,614 |
| Current portion of long-term borrowings | 6,074 | 3,713 |
| Asset retirement obligations | 285 | 285 |
| Total current liabilities | 8,169 | 6,398 |
| Long-term borrowings | 7,461 | 9,671 |
| Asset retirement obligations | 2,563 | 2,497 |
| Other liabilities | 60 | 60 |
| Total liabilities | 18,253 | 18,626 |
| Commitments and contingencies (Note 4) | ||
| Members' capital: | ||
| Distributions | (6,415) | (6,415) |
| Retained earnings | 6,453 | 5,985 |
| Manager's total | 38 | (430) |
| Capital contributions (850 shares authorized; 513.1226 issued and outstanding) | 76,006 | 76,006 |
| Syndication costs | (8,675) | (8,675) |
| Distributions | (36,350) | (36,350) |
| Accumulated deficit | (24,423) | (22,214) |
| Shareholders' total | 6,558 | 8,767 |
| Total members' capital | 6,596 | 8,337 |
| Total liabilities and members' capital | $ 24,849 | $ 26,963 |
| UNAUDITED CONDENSED BALANCE SHEETS (Parenthetical) - shares | Sep. 30, 2017 | Dec. 31, 2016 |
| Statement of Financial Position [Abstract] | ||
| Shares authorized | 850 | 850 |
| Shares issued | 513.1226 | 513.1226 |
| Shares outstanding | 513.1226 | 513.1226 |
| UNAUDITED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
| Revenue | ||||
| Oil and gas revenue | $ 1,326 | $ 476 | $ 4,496 | $ 773 |
| Expenses | ||||
| Depletion and amortization | 600 | 273 | 4,061 | 341 |
| Impairment of oil and gas properties | 56 | |||
| Operating expenses | 309 | 165 | 919 | 376 |
| General and administrative expenses | 59 | 57 | 191 | 168 |
| Total expenses | 968 | 495 | 5,171 | 941 |
| Income (loss) from operations | 358 | (19) | (675) | (168) |
| Interest expense, net | (359) | (324) | (1,066) | (322) |
| Net loss | (1) | (343) | (1,741) | (490) |
| Manager Interest | ||||
| Net income | 138 | 33 | 468 | 30 |
| Shareholder Interest | ||||
| Net loss | $ (139) | $ (376) | $ (2,209) | $ (520) |
| Net loss per share | $ (271) | $ (732) | $ (4,305) | $ (1,012) |
| UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
| Sep. 30, 2017 | Sep. 30, 2016 | |
| Cash flows from operating activities | ||
| Net loss | $ (1,741) | $ (490) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depletion and amortization | 4,061 | 341 |
| Impairment of oil and gas properties | 56 | |
| Accretion expense | 63 | |
| Amortization of debt discounts and deferred financing costs | 151 | 50 |
| Changes in assets and liabilities: | ||
| Decrease (increase) in production receivable | 200 | (270) |
| Decrease (increase) in other current assets | 28 | (108) |
| Increase (decrease) in due to operators | 21 | (13) |
| Increase in accrued expenses | 299 | 306 |
| Net cash provided by (used in) operating activities | 3,082 | (128) |
| Cash flows from investing activities | ||
| Capital expenditures for oil and gas properties | (3,768) | (2,276) |
| Decrease (increase) in salvage fund | 119 | (2) |
| Net cash used in investing activities | (3,649) | (2,278) |
| Cash flows from financing activities | ||
| Net decrease in cash and cash equivalents | (567) | (2,406) |
| Cash and cash equivalents, beginning of period | 1,805 | 4,122 |
| Cash and cash equivalents, end of period | 1,238 | 1,716 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest, net of amounts capitalized | 621 | |
| Supplemental disclosure of non-cash investing activities | ||
| Due to operators for accrued capital expenditures for oil and gas properties | $ 701 | $ 381 |
| Organization and Summary of Significant Accounting Policies | 9 Months Ended |
| Sep. 30, 2017 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Organization and Summary of Significant Accounting Policies | 1. Organization and Summary of Significant Accounting Policies Organization The Ridgewood Energy V Fund, LLC (the “Fund”), a Delaware limited liability company, was formed on November 21, 2006 and operates pursuant to a limited liability company agreement (the “LLC Agreement”) dated as of January 3, 2007 by and among Ridgewood Energy Corporation (the “Manager”) and the shareholders of the Fund, which addresses matters such as the authority and voting rights of the Manager and shareholders, capitalization, transferability of membership interests, participation in costs and revenues, distribution of assets and dissolution and winding up. The Fund was organized to primarily acquire interests in oil and gas properties located in the United States offshore waters of Texas, Louisiana and Alabama in the Gulf of Mexico. The Manager has direct and exclusive control over the management of the Fund’s operations. The Manager performs, or arranges for the performance of, the management, advisory and administrative services required for Fund operations. Such services include, without limitation, the administration of shareholder accounts, shareholder relations, the preparation, review and dissemination of tax and other financial information and the management of the Fund’s investments in projects. In addition, the Manager provides office space, equipment and facilities and other services necessary for Fund operations. The Manager also engages and manages contractual relations with unaffiliated custodians, depositories, accountants, attorneys, corporate fiduciaries, insurers, banks and others as required. See Notes 2, 3 and 4. Basis of Presentation These unaudited interim condensed financial statements have been prepared by the Fund’s management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in the opinion of management, contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Fund’s financial position, results of operations and cash flows for the periods presented. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted in these unaudited interim condensed financial statements. The results of operations, financial position, and cash flows for the periods presented herein are not necessarily indicative of future financial results. These unaudited interim condensed financial statements should be read in conjunction with the Fund’s December 31, 2016 financial statements and notes thereto included in the Fund’s Annual Report on Form 10-K (“2016 Annual Report”) filed with the Securities and Exchange Commission (“SEC”). The year-end condensed balance sheet data was derived from audited financial statements for the year ended December 31, 2016, but does not include all annual disclosures required by GAAP. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. On an ongoing basis, the Manager reviews its estimates, including those related to the fair value of financial instruments, depletion and amortization, determination of proved reserves, impairment of long-lived assets and asset retirement obligations. Actual results may differ from those estimates. Summary of Significant Accounting Policies The Fund has provided discussion of significant accounting policies in Note 1 of “Notes to Financial Statements” – “Organization and Summary of Significant Accounting Policies” contained in Item 8. “Financial Statements and Supplementary Data” within its 2016 Annual Report. There have been no significant changes to the Fund’s significant accounting policies during the three and nine months ended September 30, 2017. Asset Retirement Obligations For oil and gas properties, there are obligations to perform removal and remediation activities when the properties are retired. Upon the determination that a property is either proved or dry, a retirement obligation is incurred. The Fund recognizes the fair value of a liability for an asset retirement obligation in the period incurred. Plug and abandonment costs associated with unsuccessful projects are expensed as dry-hole costs. At least bi-annually, or more frequently if an event occurs that would dictate a change in assumptions or estimates underlying the obligations, the Fund reassesses its asset retirement obligations to determine whether any revisions to the obligations are necessary. The Fund maintains a salvage fund to provide for the funding of asset retirement obligations. Impairment of Long-Lived Assets The Fund reviews the carrying value of its oil and gas properties annually and when management determines that events and circumstances indicate that the recorded carrying value of properties may not be recoverable. Impairments are determined by comparing estimated future net undiscounted cash flows to the carrying value at the time of the review. If the carrying value exceeds the estimated future net undiscounted cash flows, the carrying value of the asset is written down to fair value, which is determined using estimated future net discounted cash flows from the asset. The fair value determinations require considerable judgment and are sensitive to change. Different pricing assumptions, reserve estimates or discount rates could result in a different calculated impairment. Given the volatility of oil and natural gas prices, it is reasonably possible that the Fund’s estimate of future net discounted cash flows from proved oil and natural gas reserves could change in the near term. Fluctuations in oil and natural gas prices may impact the fair value of the Fund’s oil and gas properties. There were no impairments of oil and gas properties during the three and nine months ended September 30, 2017 and during the three months ended September 30, 2016. During the nine months ended September 30, 2016, the Fund recorded impairments of oil and gas properties of $56 thousand, which represented the carrying value of Eugene Island 346/347. The impairment was primarily attributable to declines in future oil and natural gas prices. If oil and natural gas prices decline, even if only for a short period of time, it is possible that additional impairments of oil and gas properties will occur. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued accounting guidance on revenue recognition, which provides for a single five-step model to be applied to all revenue contracts with customers. In July 2015, the FASB issued a deferral of the effective date of the guidance to 2018, with early adoption permitted in 2017. In March 2016, the FASB issued accounting guidance, which clarifies the implementation guidance on principal versus agent considerations in the new revenue recognition standard. In April 2016, the FASB issued guidance on identifying performance obligations and licensing and in May 2016, the FASB issued final amendments which provided narrow scope improvements and practical expedients related to the implementation of the guidance. The accounting guidance may be applied either retrospectively or through the use of a modified-retrospective method. The Fund has substantially completed the evaluation of the accounting guidance and currently expects the adoption of the accounting guidance will not have a material impact on the Fund’s financial statements. Under the new accounting guidance, the revenue associated with the Fund’s existing contracts will be recognized in the period that control of the related commodity is transferred to the customer, which is generally consistent with its current revenue recognition model. The Fund will adopt the new accounting guidance using the modified retrospective method at the date of adoption, which is January 1, 2018. Although the Fund has not identified changes to its revenue recognition that would result in a material cumulative effect adjustment to retained earnings on January 1, 2018, the Fund expects the adoption of the accounting guidance will result in enhanced disclosures related to revenue recognition policies, the Fund’s performance obligations and significant judgments used in applying the new revenue recognition accounting guidance. |
| Related Parties | 9 Months Ended |
| Sep. 30, 2017 | |
| Related Party Transactions [Abstract] | |
| Related Parties | 2. Related Parties Pursuant to the terms of the LLC Agreement, the Manager is entitled to an annual management fee, payable monthly, of 2.5% of total capital contributions, net of cumulative dry-hole and related well costs incurred by the Fund. During 2015, the Manager waived its management fee for the remaining life of the Fund. Upon the waiver of the management fee, the Fund began recording costs, totaling $20 thousand per quarter, representing reimbursements to the Manager, related to services provided by the Manager for accounting and investor relations. Such costs are included within general and administrative expenses. Management reimbursement costs during each of the three and nine months ended September 30, 2017 and 2016 were $20 thousand and $60 thousand, respectively. The Manager is also entitled to receive a 15% interest in cash distributions from operations made by the Fund. The Fund did not pay distributions during the three and nine months ended September 30, 2017 and 2016. In 2016, the Fund entered into a master agreement with Beta Sales and Transport, LLC, a wholly owned subsidiary of the Manager, to facilitate the transportation and sale of oil and natural gas produced from the Beta Project. The Fund has provided discussion of this agreement in Note 2 of “Notes to Financial Statements” – “Related Parties” contained in Item 8. “Financial Statements and Supplementary Data” within its 2016 Annual Report. At times, short-term payables and receivables, which do not bear interest, arise from transactions with affiliates in the ordinary course of business. The Fund has working interest ownership in certain projects to acquire and develop oil and natural gas projects, which are also owned by other entities that are likewise managed by the Manager. |
| Credit Agreement - Beta Project Financing | 9 Months Ended |
| Sep. 30, 2017 | |
| Debt Disclosure [Abstract] | |
| Credit Agreement - Beta Project Financing | 3. Credit Agreement – Beta Project Financing As of September 30, 2017 and December 31, 2016, the Fund had borrowings of $13.6 million under the credit agreement. The loan bears interest at 8% compounded annually. Principal and interest are repaid at the lesser of the Monthly Fixed Amount or the Debt Service Cap amount, as defined in the credit agreement, until the loan is repaid in full, in no event later than December 31, 2020. The loan may be prepaid by the Fund without premium or penalty. As of December 31, 2016, in accordance with the terms of the credit agreement, there are no additional borrowings available to the Fund. On September 15, 2017, the Fund and other participating funds managed by the Manager, entered into the second amendment to the credit agreement (“Second Amendment”). The Second Amendment principally amended the definition of net revenues, which is the basis for the calculation of the Debt Service Cap amount. Unamortized debt discounts and deferred financing costs of $50 thousand as of September 30, 2017 and $0.2 million as of December 31, 2016 are presented as a reduction of “Long-term borrowings” on the balance sheets. Amortization expense during the three and nine months ended September 30, 2017 of $50 thousand and $0.2 million, respectively, and amortization expense during the three months ended September 30, 2016 of $50 thousand were expensed and included on the statements of operations within “Interest expense, net”. Amortization expense during the nine months ended September 30, 2016 of $0.1 million was capitalized and included on the balance sheet within “Oil and gas properties”. As of September 30, 2017 and December 31, 2016, accrued interest costs of $0.9 million and $1.6 million, respectively, were included on the balance sheets within “Accrued expenses”. Interest costs incurred during the three and nine months ended September 30, 2017 of $0.3 million and $0.9 million, respectively, and interest costs incurred during the three months ended September 30, 2016 of $0.3 million were expensed and included on the statements of operations within “Interest expense, net”. Interest costs incurred during the nine months ended September 30, 2016 of $0.5 million were capitalized and included on the balance sheet within “Oil and gas properties”. During the nine months ended September 30, 2017, the Fund made payments on the loan of $1.0 million, which related to capitalized interest costs. As additional consideration to the lenders, the Fund has agreed to convey an overriding royalty interest (“ORRI”) in its working interest in the Beta Project to the lenders. Such ORRI will not accrue or become payable to the lenders until after the loan is repaid in full. The credit agreement contains customary covenants, with which the Fund was in compliance as of September 30, 2017 and December 31, 2016. |
| Commitments and Contingencies | 9 Months Ended |
| Sep. 30, 2017 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 4. Commitments and Contingencies Capital Commitments As of September 30, 2017, the Fund’s estimated capital commitments related to its oil and gas properties were $6.3 million (which include asset retirement obligations for the Fund’s projects of $4.1 million), of which $2.0 million is expected to be spent during the next twelve months primarily related to the additional development costs for the Beta Project. As a result of continued development of the Beta Project, the Fund has experienced negative cash flows for the nine months ended September 30, 2017. Additionally, current liabilities exceed current assets as of September 30, 2017. Future results of operations and cash flows are dependent on the continued successful development and the related production of oil and gas revenues from the Beta Project. Based upon its current cash position and its current reserve estimates, the Fund expects cash flow from operations to be sufficient to cover its commitments, borrowing repayments and ongoing operations. Reserve estimates are projections based on engineering data that cannot be measured with precision, require substantial judgment, and are subject to frequent revision. However, if cash flow from operations is not sufficient to meet the Fund’s commitments, the Manager will provide short-term financing to accommodate the Fund’s short-term commitments if needed. Environmental and Governmental Regulations Many aspects of the oil and gas industry are subject to federal, state and local environmental laws and regulations. The Manager and operators of the Fund’s properties are continually taking action they believe appropriate to satisfy applicable federal, state and local environmental regulations. However, due to the significant public and governmental interest in environmental matters related to those activities, the Manager cannot predict the effects of possible future legislation, rule changes, or governmental or private claims. As of September 30, 2017 and December 31, 2016, there were no known environmental contingencies that required adjustment to, or disclosure in, the Fund’s financial statements. Oil and gas industry legislation and administrative regulations are periodically changed for a variety of political, economic, and other reasons. Any such future laws and regulations could result in increased compliance costs or additional operating restrictions, which could have a material adverse effect on the Fund’s operating results and cash flows. It is not possible at this time to predict whether such legislation or regulation, if proposed, will be adopted as initially written, if at all, or how legislation or new regulation that may be adopted would impact the Fund’s business. BOEM Notice to Lessees on Supplemental Bonding On July 14, 2016, the Bureau of Ocean Energy Management (“BOEM”) issued a Notice to Lessees (“NTL”) that discontinued and materially replaced existing policies and procedures regarding financial security (i.e. supplemental bonding) for decommissioning obligations of lessees of federal oil and gas leases and owners of pipeline rights-of-way, rights-of use and easements on the Outer Continental Shelf (“Lessees”). Generally, the new NTL (i) ended the practice of excusing Lessees from providing such additional security where co-lessees had sufficient financial strength to meet such decommissioning obligations, (ii) established new criteria for determining financial strength and additional security requirements of such Lessees, (iii) provided acceptable forms of such additional security and (iv) replaced the waiver system with one of self-insurance. The new rule became effective as of September 12, 2016; however on January 6, 2017, the BOEM announced that it was suspending the implementation timeline for six months in certain circumstances. On June 22, 2017, the BOEM announced that the implementation timeline extension will remain in effect pending the completion of its review of the new NTL. Insurance Coverage The Fund is subject to all risks inherent in the oil and natural gas business. Insurance coverage as is customary for entities engaged in similar operations is maintained, but losses may occur from uninsurable risks or amounts in excess of existing insurance coverage. The occurrence of an event that is not insured or not fully insured could have a material adverse impact upon earnings and financial position. Moreover, insurance is obtained as a package covering all of the funds managed by the Manager. Depending on the extent, nature and payment of claims made by the Fund or other funds managed by the Manager, yearly insurance coverage may be exhausted and become insufficient to cover a claim by the Fund in a given year. |
| Organization and Summary of Significant Accounting Policies (Policy) | 9 Months Ended |
| Sep. 30, 2017 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | Basis of Presentation These unaudited interim condensed financial statements have been prepared by the Fund’s management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in the opinion of management, contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Fund’s financial position, results of operations and cash flows for the periods presented. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted in these unaudited interim condensed financial statements. The results of operations, financial position, and cash flows for the periods presented herein are not necessarily indicative of future financial results. These unaudited interim condensed financial statements should be read in conjunction with the Fund’s December 31, 2016 financial statements and notes thereto included in the Fund’s Annual Report on Form 10-K (“2016 Annual Report”) filed with the Securities and Exchange Commission (“SEC”). The year-end condensed balance sheet data was derived from audited financial statements for the year ended December 31, 2016, but does not include all annual disclosures required by GAAP. |
| Use of Estimates | Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. On an ongoing basis, the Manager reviews its estimates, including those related to the fair value of financial instruments, depletion and amortization, determination of proved reserves, impairment of long-lived assets and asset retirement obligations. Actual results may differ from those estimates. |
| Asset Retirement Obligations | Asset Retirement Obligations For oil and gas properties, there are obligations to perform removal and remediation activities when the properties are retired. Upon the determination that a property is either proved or dry, a retirement obligation is incurred. The Fund recognizes the fair value of a liability for an asset retirement obligation in the period incurred. Plug and abandonment costs associated with unsuccessful projects are expensed as dry-hole costs. At least bi-annually, or more frequently if an event occurs that would dictate a change in assumptions or estimates underlying the obligations, the Fund reassesses its asset retirement obligations to determine whether any revisions to the obligations are necessary. The Fund maintains a salvage fund to provide for the funding of asset retirement obligations. |
| Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Fund reviews the carrying value of its oil and gas properties annually and when management determines that events and circumstances indicate that the recorded carrying value of properties may not be recoverable. Impairments are determined by comparing estimated future net undiscounted cash flows to the carrying value at the time of the review. If the carrying value exceeds the estimated future net undiscounted cash flows, the carrying value of the asset is written down to fair value, which is determined using estimated future net discounted cash flows from the asset. The fair value determinations require considerable judgment and are sensitive to change. Different pricing assumptions, reserve estimates or discount rates could result in a different calculated impairment. Given the volatility of oil and natural gas prices, it is reasonably possible that the Fund’s estimate of future net discounted cash flows from proved oil and natural gas reserves could change in the near term. Fluctuations in oil and natural gas prices may impact the fair value of the Fund’s oil and gas properties. There were no impairments of oil and gas properties during the three and nine months ended September 30, 2017 and during the three months ended September 30, 2016. During the nine months ended September 30, 2016, the Fund recorded impairments of oil and gas properties of $56 thousand, which represented the carrying value of Eugene Island 346/347. The impairment was primarily attributable to declines in future oil and natural gas prices. If oil and natural gas prices decline, even if only for a short period of time, it is possible that additional impairments of oil and gas properties will occur. |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued accounting guidance on revenue recognition, which provides for a single five-step model to be applied to all revenue contracts with customers. In July 2015, the FASB issued a deferral of the effective date of the guidance to 2018, with early adoption permitted in 2017. In March 2016, the FASB issued accounting guidance, which clarifies the implementation guidance on principal versus agent considerations in the new revenue recognition standard. In April 2016, the FASB issued guidance on identifying performance obligations and licensing and in May 2016, the FASB issued final amendments which provided narrow scope improvements and practical expedients related to the implementation of the guidance. The accounting guidance may be applied either retrospectively or through the use of a modified-retrospective method. The Fund has substantially completed the evaluation of the accounting guidance and currently expects the adoption of the accounting guidance will not have a material impact on the Fund’s financial statements. Under the new accounting guidance, the revenue associated with the Fund’s existing contracts will be recognized in the period that control of the related commodity is transferred to the customer, which is generally consistent with its current revenue recognition model. The Fund will adopt the new accounting guidance using the modified retrospective method at the date of adoption, which is January 1, 2018. Although the Fund has not identified changes to its revenue recognition that would result in a material cumulative effect adjustment to retained earnings on January 1, 2018, the Fund expects the adoption of the accounting guidance will result in enhanced disclosures related to revenue recognition policies, the Fund’s performance obligations and significant judgments used in applying the new revenue recognition accounting guidance. |
| Organization and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
| Oil and Gas Delivery Commitments and Contracts [Line Items] | ||||
| Impairment of oil and gas properties | $ 56 | |||
| Eugene Island 346/347 [Member] | ||||
| Oil and Gas Delivery Commitments and Contracts [Line Items] | ||||
| Impairment of oil and gas properties | $ 56 | |||
| Related Parties (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
| Related Party Transactions [Abstract] | ||||
| Annual management fee percentage rate | 2.50% | 2.50% | ||
| Cost of services provided by Manager, quarterly amount | $ 20 | $ 20 | ||
| Cost of services provided by Manager | $ 20 | $ 20 | $ 60 | $ 60 |
| Percentage of total distributions allocated to Fund Manager | 15.00% | 15.00% | ||
| Credit Agreement - Beta Project Financing (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
| Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
| Debt Disclosure [Abstract] | |||||
| Long-term borrowings | $ 13,600 | $ 13,600 | $ 13,600 | ||
| Credit agreement, interest rate | 8.00% | 8.00% | |||
| Credit agreement, maturity date | Dec. 31, 2020 | ||||
| Unamortized debt discounts and deferred financing costs | $ 50 | $ 50 | 200 | ||
| Amortization of financing costs | 50 | $ 50 | 200 | ||
| Amortization capitalized | $ 100 | ||||
| Accrued interest | 900 | 900 | $ 1,600 | ||
| Interest expense | $ 300 | $ 300 | 900 | ||
| Capitalized interest | $ 500 | ||||
| Interest paid | $ 1,000 | ||||
| Commitments and Contingencies (Details) $ in Thousands | 9 Months Ended |
| Sep. 30, 2017USD ($) | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments for the drilling and development of investment properties | $ 6,300 |
| Commitments for asset retirement obligations included in estimated capital commitments | 4,100 |
| Commitments for the drilling and development of investment properties expected to be incurred in the next 12 months | $ 2,000 |
